Jeanne Lewis is attempting to evaluate two possible portfolios consisting of the same five assets but held in different proportions. She is particularly interested in using beta to compare the risk of the portfolios and, in this regard, has gathered the following data

Portfolio Weights Asset Asset Beta Portfolio A Portfolio B 1 1.33 12% 31% 2 0.71 33% 11% 3 1.23 10% 25% 4 1.15 5% 17% 5 0.86 40% 16% Total 100% 100%

a. Calculate the betas for portfolios A and B.

b. Portfolio (blank) is slightly less risky than the market, while portfolio (blank) is more risky than the market. Portfolio's (blank) return will move more than portfolio (blank's) for a given increase or decrease in market risk. Portfolio (blank) is the more risky portfolio.